Fidelity Bank is taking proactive steps to address the investment and support challenges faced by startups in Africa.
This commitment was emphasized during the Africa Technology Expo held recently in Lagos.
Key Initiatives by Fidelity Bank:
Digital-Based Retail Banking Strategy:
Fidelity Bank is implementing a digital-based retail banking strategy through an SME business hub. This hub aims to facilitate networking and collaboration among startups, content creators, and other digital entrepreneurs.
Partnerships for Growth:
The bank has partnered with SPARK Africa and other stakeholders to host the Africa Technology Expo. This platform allows startups and participants to connect with investors, growth partners, and industry leaders.
Support for Technology and Innovation:
Fidelity Bank’s Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, emphasized the bank’s dedication to transforming Africa into a hub for emerging technology. Represented by the bank’s Executive Director/Chief Risk Officer, Kevin Ugwuoke, Onyeali-Ikpe highlighted the importance of tackling the twin challenges of investment and support for tech startups.
Government Support:
Lagos State Governor, Babajide Sanwo-Olu, represented by the Commissioner for Innovation, Science, and Technology, Olatubosun Alake, acknowledged the role of tech startups in driving economic growth and social development. He also highlighted the state’s interventions in the technology and innovation sectors.
Innovation in the African Tech Industry:
The Chief Innovation Officer of the Africa Technology Expo, Nnaemeka Clinton, praised the growth and innovation within the African tech industry, noting the significant advancements from tech hubs like Accra and Lagos.
Additionally, Fidelity Bank is currently raising approximately N127 billion through a rights issue and public offer to meet the new capitalisation requirements set by the Central Bank of Nigeria.
Fidelity Bank’s initiatives demonstrate a commitment to fostering a supportive ecosystem for startups, which could significantly contribute to Africa’s digital transformation and economic development.
